Le Mans (France)Wed Oct 22, 2003 —
Le Mans, France - October 22, 2003 - XL Re Europe, formerly known as Le Mans Ré, announced today that it would host the Baden-Baden pre-event Reinsurance Symposium to be held on October 25, 2003, from 2:00 pm to 6:00 pm in the Congress House (Kongresshauss) of Baden-Baden city, site of the annual European Reinsurance Meeting held October 26 to 31.The Symposium, organized by the XL Re companies in association with the Baden- Baden City Council, is entitled: "Ratings? Security! Returns...".The session will examine a wide range of topical business issues. These include segments on: "The increasing power of rating agencies", "How ratings influence reinsurer's strategies and underwriting policy", "How ratings influence a reinsurance buyer's decision", and "How ratings impact shareholder investment decisions". The afternoon will conclude with a summary by XL Re CEO Henry C.V. Keeling followed by a reception.Mr. Keeling commented: "Ratings, security and balance sheet strength were all key discussion points at both the inaugural XL Capital Group Congress hosted in Montreux (Switzerland) and at the Monte Carlo Rendez-Vous, and we believe the market will benefit by hearing senior executives in rating agencies, investment banks, reinsurance brokerage firms and research firms discussing these issues in greater detail. The more the market understands the fundamentals driving the business, the better the resulting decisions should be."Mr. Charles Werner Skrzynski, CEO of XL Re Europe, said: "We are approaching year-end renewals and Baden-Baden is where the meetings between reinsurance buyers and providers move into high gear. Ratings have never been as important an issue as they have for this renewal and it's important that we hear the thinking of those who can explain the fundamentals and essentials of ratings and their role in the pricing mechanism and decisions of reinsurance buyers."For further information or to register, please contact Anne Vettorazzo by phone at: +33 (0)2 43 50 82 05 or by email - a.vettorazzo@lemansre.com - or go to: www.xlre.com.XL Re is the global brand used for XL Capital Ltd's reinsurance operations. The XL Re companies have over 500 employees in 14 countries. More information about the XL Re companies is available at www.xlre.com. XL Capital Ltd, through its operating subsidiaries, is a leading provider of insurance and reinsurance coverages and financial products to industrial, commercial and professional service firms, insurance companies, and other enterprises on a worldwide basis. As of June 30, 2003, XL Capital Ltd had consolidated assets of approximately $39.2 billion and consolidated shareholders' equity of approximately $7.6 billion. More information about XL Capital Ltd is available at www.xlgroup.com.